November 9, 2026 | Economy

U.S. employers added 165,000 nonfarm payroll jobs in October, and unemployment was 4.1%, according to the Bureau of Labor Statistics release published November 6. Average hourly earnings for private nonfarm employees rose 3.1% over the year.

Keep the measures separate

These are national monthly figures. Payroll employment and unemployment come from different surveys, and average wage growth is not the same as a change in an individual household’s income. The report does not measure Phoenix housing demand or quote a mortgage rate.

The Bison perspective

Our interpretation: a jobs headline is useful economic context, but it cannot determine the right home budget or rate-lock decision for a particular buyer. Start with your own income, planned cash reserves, purchase timeline and available loan terms. Ask your loan officer to explain how a payment change would affect that plan.

We will continue checking new releases while keeping their dates visible. This October report should not be treated as a real-time reading of November conditions.

Talk through your next step with Bison.

Source: BLS Employment Situation, October 2026, released November 6 and checked November 9, 2026. General market commentary, not a rate forecast or commitment to lend.